Credit Suisse Group AG will divide its international wealth management division into seven regions instead of four existing today, Bloomberg reports. Each region will get more autonomy for decision making. Seven regions will include Latin America, Brazil, Western Europe, Southern Europe, Middle East and Central and Eastern Europe.

Second largest bank in Switzerland is close to end its three-year overhaul. The main goal of new strategy is to focus on wealth management.

International wealth management division was created in 2015.

Steps taken by Credit Suisse AG are radically different from those taken recently by bigger rival UBS Group AG. Earlier this year UBS informed that it is going to unit two main wealth management divisions to reduce expenses.